Gold prices edged lower as traders closely monitored U.S.-China talks, the outcome of which could simmer down trade tensions and boost the global economy, lessening demand for safe-haven assets, while a rising U.S. dollar added pressure.
The Gold-Dollar price remained largely unchanged in the last session. The Stochastic-RSI indicates an overbought market.
Support: 3256 | Resistance: 3397.5
The U.S. dollar was little changed to marginally lower, consolidating recent gains, as talks between Beijing and Washington continued for a second day amid expectations of a trade deal that could further ease trade tensions.
BlackRock’s spot Bitcoin exchange-traded fund has become the fastest ETF in history to surpass $70 billion in assets under management. BlackRock’s Bitcoin ETF milestone came shortly after the fund wrapped up a massive 31-day inflow streak.
The S&P 500 ended slightly higher, lifted by Amazon and Alphabet, while investors watched U.S.-China negotiations aimed at mending a trade dispute that has rattled financial markets for much of the year.
The U.S. dollar weakened against most major currencies, moving in narrow ranges, as market participants consolidated gains racked up following Friday’s better-than-expected U.S. employment report and shifted their focus to pivotal U.S.-China trade talks in London.
U.S. chipmaker Qualcomm agreed to acquire Alphawave for about $2.4 billion, as it expands into the booming AI data center market, sending shares of the British semiconductor company surging more than 22%.
